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Writing a thread on usage of credit card (based on personal experience), may not b best, but has worked for me
1. Credit card is good financial tool which helps u temporarily, n frequently, only if used judiciously
2. Never get in debt trap of credit card, by only paying min. Amt
1. Credit card is good financial tool which helps u temporarily, n frequently, only if used judiciously
2. Never get in debt trap of credit card, by only paying min. Amt
let's start,
1. Have more than 1 credit card (2-3) have month ending cycle on different dates, 1 @ start if month, 1 by 15th n another by end, this will help u to use card for spending n also get maximum credit period, depending on which day u using it, accordingly use card
1. Have more than 1 credit card (2-3) have month ending cycle on different dates, 1 @ start if month, 1 by 15th n another by end, this will help u to use card for spending n also get maximum credit period, depending on which day u using it, accordingly use card
2. For bigger amount immediately go for EMI (spend only with in ur earning limit, should b thumb rule), dont go bigger EMI period, as though monthly burden will b low, during the period other expenses will always come n burden will only increase, try finishing of EMI in year
3. Never ever, pay only minimum amount of monthly credit card bill, it's entry into debt trap. Always pay total monthly due. Many card gives balance transfer facility. Use it to pay of monthly payment n convert that in EMI
Helps ur CiBIL score
also no Huge interest of 42-45%
Helps ur CiBIL score
also no Huge interest of 42-45%
Last, never take cash out of credit card...cuz credit card will consider all the payment for other card usage n oy at last wen nothing is pending will take it as cash payment, n by that time u would b paying almost double or more, by way interest n interest on interest
Keep constant tab on usage of credit card, outstanding, credit limit, monthly payout... B aware of offers
This is on how to use cards
Best policy is jitna earning utna hi spending. EMI n credit card can help only as breather temporarily, ultimately toh u hv to pay, so b Sane
This is on how to use cards
Best policy is jitna earning utna hi spending. EMI n credit card can help only as breather temporarily, ultimately toh u hv to pay, so b Sane
a finito line, 45/50 days grace period is not for every transaction!! it starts from 1st day of month cycle ...
so supposedly u spent on 15th day, u get only 30 days
n if u spend on last day, u get only 15 days!! so b very mindful of these
so supposedly u spent on 15th day, u get only 30 days
n if u spend on last day, u get only 15 days!! so b very mindful of these
